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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Bill to tap Rainy Day Fund approve

Posted on 24 April 2013

A move to take $2 billion out of the state’s Economic Stabilization Fund — commonly known as the Rainy Day Fund — was approved in the House budget committee Tuesday morning with mild pushback to make sure transportation and education get their share of money from the fund.

The House Appropriations Committee approved the bill, HB 11, which would put money from the Economic Stabilization Fund into a bank from which communities could borrow money at low interest rates for water projects such as pipelines, aquifer development, desalination and conservation………………………………………..Full Article: Source


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